As anticipated, the bearish warning signs in EUR/GBP prices ended up preceding a reversal following a false breakout above a descending trend line from August. The fundamental backdrop behind an aggressive decline in the Euro against the British Pound appeared to be as a result of positive Brexit updates from the UK. Following these developments, EUR/GBP seems poised to resume its dominant downtrend since August.

Looking at the weekly chart below, the pair is on course to forming a quite rare falling three method bearish candlestick pattern. Progress to the upside in the pair was impeded by a rising range of support from April (red parallel lines below) which reestablished itself as new resistance. Confirmation